Such is the first, superficial impression: our schools, like our churches and our ministers, have no clear conception of what they are doing but are carrying on traditional actions, making separate responses to various pressures exerted
by churches and society, contriving uneasy
compromises among many values, engaging in little quarrels symptomatic of undefined issues, trying to improve their work
by adjusting minor parts of the academic machine or
by changing the specifications of the raw material to be treated.
I consider my valuation multiple a reasonable
compromise between higher sector multiples & the risk of a devastating client loss... Plus it allows me to (fairly) comfortably apply a (positive) debt adjustment: Based on the company's 4.7 M of (annualized)
adjusted operating profit (& zero debt), management could easily draw down 14.2 M of debt for expansion, acquisitions, etc. — as usual, I'll haircut this
by 50 %.